Phygital/phydigital NFTs (hybrid NFTs – digital and physical at the same time) are a growing trend among top brands that bring a physical aspect to their digital product, creating more value in the luxury market but not just luxury. They function by fusing the physical and digital worlds together. A digital asset called the NFT itself lives on a decentralized ledger such as the Ethereum blockchain, Solana network, Tezos, Binance, and so on. The virtual token will have all the data on the asset it stands for on the immutable ledger. The physical aspect of phygital NFTs can be anything from a painting to a sculpture or even a piece of clothing.
At ASKNIGHTS, we also focus on Phygital NFTs and Hybrid Art and Exhibitions. We have already done this before. Looking forward to expanding our collaboration with ChainLink to tokenise the art world – art from museums and galleries. We are offering a unique and one-of-a-kind solution, in the whole world. Authenticity is vital to us. This seems to be the future and is definitely worth a further look!
Some examples of phygital NFTs include Gucci NFT Collection, Nike’s CryptoKicks iRL, Azuki Golden Skateboard, LV NFTs, Porsche NFTs, Tiffany & Co. CryptoPunk pendants, and Prada’s Capsule Collection. In fact, Nike ranks the highest-earning fashion brand in NFT sales ($184.31M) in 20221.
Blockbar offers phygital NFTs with corresponding physical bottles. The company stores the bottles in a secure location and sends the digital asset to the buyer2.
Sotheby’s NY “Art as Jewelry as Art” sale was the first auction to include a phygital ring3.
NFT artist FVCKRENDER created a series of 3D sculptures that were sold very well as NFTs. The buyer of each sculpture received a physical version of the artwork2. And so did Beeple with some of his artworks.
Phygital NFTs are also used for models. Eva Herzigová is the first one to try this new technology; she is a supermodel who has her very own real-time 3D phygital human, also known as a “MetaHuman”. A 70-camera rig scanned the real-life model Eva to create her digital duplicate, so now she’s a hybrid living being. Eva is the first ever real-life supermodel to debut as a hyper-real 3D avatar combining both mediums. The MetaHuman uses Epic Games’ MetaHuman technology. This is a complete ‘phygital’ framework to create and animate highly realistic human characters. This technology has its uses in games, fashion, filmmaking, or any other Unreal Engine project.